Each day, I interact with dozens of people in our consignment store, as I like to make people feel welcome and a part of our extended family. However, the one thing that always surprises me is when I am having a discussion with someone about our store and they look surprised when I tell them that we sell things for people.
So, let’s talk about what a “Consignment Store” is really all about. You may get varying degrees of discussion on this subject, but following is my definition of what “our” consignment store is all about.
A quality and professionally operated consignment store is a vital part of a local economy. As a consignment store owner, I live in this community, work in this community, and shop in this community, so I want to make sure I contribute as much and give back to this community as much as possible.
- People of the community bring high quality items that they no longer want or need into our store to be sold “on consignment.” The items they bring in to be sold should be Clean, Quality, and Fairly priced (we can help you determine a fair price if you like).
- An individual will be “paid” for their item(s) after they are sold. That is where the term “consignment” comes into play. Your items are placed in our store “on consignment” meaning that once it is sold, you receive your portion of the price the item sells for.
- When a person’s items are sold, they receive a percentage of the sale price for their items and the consignment store receives a percentage of the sale price. The percentages paid will vary from store to store. It could be anywhere from a 50/50 percentage split to as much as a 70/30 split. The average in the Hampton Roads Region is a 60/40 split, meaning the person bringing the item in for sale will receive 60 percent of the price the item sells for, and the store will receive 40 percent. Always be sure you understand and agree to the seller/store split when you take items into any consignment store, and ensure you have a copy of the signed contract (read it all and ask for any changes that you are not comfortable with before signing it), as well as a copy of the inventory list of item(s) you are dropping off to be sold.
- Once you bring things into a consignment store to be sold, you become the “consignor” and the store is the “consignee.” Simply an agreement between two parties that one is providing the goods to be sold, and the other is agreeing to pay for those goods after they sell.
- A consignor (you) will typically receive payment once each month for any item(s) of theirs that have sold in a specified time frame. For example, in our store, we print checks on the 10th of each month for all items that were sold in the previous month. If you had 10 items on consignment in our store in the month of July, and 5 of those items sold during July, you would receive a check for your portion of the sales on the 10th of August.
- A consignment is typically limited in time. Most consignment stores range from a rare 30 day period up to a 120 day period. I believe the average in this region is 60 to 90 days, and ours is a 60 day period. We limit our consignment period to 60 days for several reasons. First, we want to ensure that there is always fresh and changing merchandise in our store for shoppers. We also know from experience that an item that remains too long is either priced wrong, not the type of item most people are shopping for, or it is not the proper season for the item (i.e. a winter jacket in the middle of summer).
Now that you know more specifically what a consignment store is or should be, let’s look at why it is such a vital part of your local community.
When people of a community have a place to sell items they no longer need or want, they are then paid for the items, which puts money back into the pockets of local residents. Consignment stores not only place money back into the local economy, but most of them also contribute to the local community in other ways by supporting local charities, providing local jobs, and providing a place for the local residents to purchase quality items at a fraction of the price they would typically pay in a large retail store.
Find a local consignment store that you feel comfortable with, where you are treated with respect and dignity, and where you are comfortable that the items you are bringing in for sale are in the hands of someone that will always protect your items and be fully honest with you in all of their dealings with your account.
Being attentive to customers is part of my passion in striving for 100% customer satisfaction. Not only do I make every effort to have each customer greeted as they enter our store, I also make every effort to ensure any questions or concerns they have are fully addressed. We are always open to customer feedback both positive and negative. We value customer comments and take every suggestion, idea, and comment seriously and try to adjust where we can to implement quality ideas.
Here at Crazy J’s Consignments, we are always looking for ways to help our community, and we value each person that walks through our doors. Open Monday through Saturday from 10am to 8pm and Sunday from 12 Noon to 6pm.
In addition to items consigned for sale in our store, we occasionally find quality items and gifts from other sources that offer excellent value for our customers. We recently became licensed and bonded in the Commonwealth of Virginia as a precious metals dealer as well. This means we now can buy gold, silver, platinum, and silver coins from our customers. We know that most people selling their precious metal items/jewelry are typically doing so for some much needed extra cash. That’s why we pay more than just about any other place you could find to sell these types of items. We always say, “have it checked and get an offer anywhere, then bring it to us to see what you could be getting for it from a local community store.” So far, we have 100% positive feedback from people brining in their items to be sold. Since we are purchasing jewelry items now, this also means we are starting to have a growing inventory of quality jewelry items for sale in our display cases. Gold and Silver jewelry items that are high quality and worthy of your consideration, and priced far below retail pricing of a typical jewelry store.
In closing, I hope this has helped you learn a little more about what your local “Consignment Store” is really all about, and how together, “WE” can make a big difference in our local community. The key is not just a place to sell your items, but a place to shop that puts money back into your pocket and the pockets of the local community. We look forward to seeing you on your next visit, and feel free to mention this article to me on your next visit. I may have a little surprise for you.
Crazy J’s Consignments
2352 George Washington Memorial Hwy
Hayes, VA 23072
(Hayes Plaza Shopping Center – One Mile North of the Coleman Bridge on Route 17)